“I beget no longer yet been ready to test with monetary policy board people the outcomes of govt policies,” mentioned Rhee Chang-yong, in line with a reporter’s query about market expectations for a rate lower in October
Reuters
30 September, 2024, 12:40 pm
Final modified: 30 September, 2024, 12:46 pm
South Korea’s central bank governor mentioned on Monday he would desire to test with board people the affect of newest govt measures geared against taming household debt, when requested referring to the chance of lowering hobby charges subsequent week.
“I beget no longer yet been ready to test with monetary policy board people the outcomes of govt policies,” mentioned Rhee Chang-yong, in line with a reporter’s query about market expectations for a rate lower in October.
“In phrases of the topic, I trust it’s acceptable to test with the board and divulge about it at the policy meeting, so I’m going to no longer commentary at the present time,” Rhee mentioned, also declining to commentary on the chance of relief-to-relief rate cuts subsequent month and the month after.
His remarks came amid increasing market expectations that the central bank will lower its policy rate from 3.50%, the absolute perfect since behind 2008, at the upcoming rate-environment meeting to assist domestic quiz.
Final week, one board member mentioned govt measures to curb household debt were expected to gradually take attain, whereas one other member mentioned he most most important to search more info though the case for rate cuts used to be increasing.
The Financial institution of Korea final month held hobby charges staunch at 3.50% in a unanimous choice with board people peaceful obsessed on rising dwelling prices and debt. It subsequent meets on Oct. 11.
